Featuring asset managers, corporates, hedge funds, regulators plus many more, FX Invest Europe is the leading investor forum to hear from the most influential players in the FX community as they sharâ¦

This flagship event is The Conference to attend for the institutional foreign exchange industry: a day with serious content, for the serious players in the institutional FX space. And lots of networkâ¦

HSBC wins BMo CLS contract

FX Week staff

07 Jun 2004

Tweet

Facebook

LinkedIn

Save this article

Send to

Print this page

BMo has chosen to use CLS via another bank despite owning an equity stake in the settlement service. But setting up the systems needed to use CLS directly can cost as much again as the original stake, which is thought to be US$5 million.

"FX and clearing services are core competencies for us," said Michael Gallagher, head of payments and cash management for North America at HSBC. "We believe our expertise, proven technological capabilities, and global reach play a large role in the success